Maxim Group analyst Anthony Vendetti maintained a Buy rating on Celsius Holdings Inc (NASDAQ: CELH) today and set a price target of $8. The company’s shares closed yesterday at $4.49.
Vendetti said:
“Market close, CELH reported lower-than-expected 2Q18 revenues, including International revenue significantly below our estimate. However, Domestic revenue grew 29% y/y. Based on 2Q18 results and our expectations, we are reducing our revenue and EPS estimates. The company expanded distribution with three Target (TGT – NR) stores, and other channels grew as well. 2018, CELH announced the appointment of Edwin F. Negron- Carballo as the new CFO.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 9.3% and a 54.0% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Celsius Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $7.50, which is a 67.0% upside from current levels. In a report issued on August 7, B.Riley FBR also maintained a Buy rating on the stock with a $7 price target.
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The company has a one-year high of $7 and a one-year low of $3.90. Currently, Celsius Holdings Inc has an average volume of 126.5K.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CELH in relation to earlier this year.
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Celsius Holdings, Inc. engages in the development, marketing, sale, and distribution of calorie-burning beverages. It offers flavors including grapefruit, cucumber lime, orange pomegranate, pineapple coconut, watermelon berry, and strawberries and cream. The company was founded in April 2004 and is headquartered in Boca Raton, FL.
